Research on Innovation of Rail Transit Investment and Financing System and Mechanism

Institutions

Beijing Municipal Commission of Development and Reform, Beijing Engineering Consulting Company

Abstract

Under the current policy model, the Beijing Municipal Government authorizes the Beijing Infrastructure Investment Co., Ltd. to be responsible for rail transit, yet there is great uncertainty about the sustainability of the ABO model in the future. With the continuous improvement of the services of rail transit, the increasing constraints of surrounding environmental factors on project implementation, the fluctuation of the price of manpower, materials, and machines, and the increasing shortage of land for construction, the cost of the construction of rail transit in Beijing is growing step by step. It is necessary to propose an innovative investment and financing system suitable for the construction of rail transit in Beijing combining domestic and foreign rail transit investment and financing systems.

The report focuses on the analysis of rail transit-related policies and existing investment and financing models, the analysis of domestic and foreign rail transit investment and financing cases, the analysis of rail transit investment and financing models, the investigation of the current situation of social capital, and the research on urban sharing systems and mechanisms. The specific research case is based on the existing rail transit lines in Beijing and the planned lines for the third phase of construction. Focusing on the M101 line, Daxing line and other lines, the feasibility of integrated development as a whole package is studied.

The report finally summarizes the investment and financing cases of other countries and domestic cities and makes the following suggestions for the innovation of the rail transit investment and financing system and mechanism: We should improve the urban sharing mechanism, increase private investment, ease financial pressure, revitalize the stock assets of rail transit through the PPP model, and innovate land supply policies.

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Research on the Innovation of Rail Transit Investment and Financing System and Mechanism